Car Loan Calculator – Estimate Your Monthly Outgo

This calculator estimates monthly EMI, total interest payable and total payment (principal + interest) for a car loan based on loan amount, interest rate and tenure.

The standard reducing balance EMI formula is used: EMI = P*r*(1+r)^n / ((1+r)^n - 1), where r is monthly rate and n is total months.

No — this tool models a straightforward EMI schedule without prepayments. Prepayments or part-payments will change amortization and interest paid.

This simple calculator assumes a fixed rate for the tenure. For variable/floating rates, recalculate when rates change to see updated EMIs or totals.

Loan amount, tenure and interest rate primarily determine total interest. Shorter tenures reduce interest but increase EMI; longer tenures do the opposite.

No — use this as a planning tool. For tailored advice, consult a finance professional or your lender.

EMI is calculated using the reducing balance formula which spreads principal + interest over the loan term. The calculator shows the result immediately.

Prepayment options vary by lender and may include charges. Prepayment reduces principal and interest; check your loan terms.

For floating-rate loans, EMIs or tenure can change when rates reset. This calculator assumes a fixed rate; recalculate if your rate changes.

Yes — lenders may charge processing fees, documentation fees or other upfront charges. These are not included in EMI calculations unless rolled into the loan.

Insurance is typically separate from EMI but may be bundled; confirm with your dealer/lender whether insurance premium is financed.

No — this is an estimation tool. For exact repayment schedules and terms, refer to lender-provided documents and agreements.